Mirae Asset Global Investments Co. Ltd. Sells 628 Shares of ATI Inc. (NYSE:ATI)

Mirae Asset Global Investments Co. Ltd. cut its position in shares of ATI Inc. (NYSE:ATI) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,669 shares of the basic materials company’s stock after selling 628 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ATI were worth $702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC raised its position in ATI by 4,401.2% during the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after purchasing an additional 9,201,818 shares during the period. Geode Capital Management LLC raised its position in ATI by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock valued at $130,709,000 after purchasing an additional 5,165 shares during the period. Charles Schwab Investment Management Inc. raised its position in ATI by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,239 shares of the basic materials company’s stock valued at $91,750,000 after purchasing an additional 24,224 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in ATI by 1.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 580,194 shares of the basic materials company’s stock valued at $38,821,000 after purchasing an additional 7,854 shares during the period. Finally, Point72 Asset Management L.P. raised its position in ATI by 10.0% during the third quarter. Point72 Asset Management L.P. now owns 571,676 shares of the basic materials company’s stock valued at $38,251,000 after purchasing an additional 51,799 shares during the period.

Wall Street Analyst Weigh In

ATI has been the topic of several recent analyst reports. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Barclays increased their price target on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Susquehanna increased their price target on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, ATI presently has an average rating of “Moderate Buy” and an average price target of $74.86.

ATI Stock Down 1.9 %

Shares of NYSE:ATI opened at $60.70 on Thursday. ATI Inc. has a 52-week low of $41.37 and a 52-week high of $68.92. The stock has a market cap of $8.66 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10. The business’s 50 day moving average is $57.39 and its 200 day moving average is $60.20. The company has a quick ratio of 1.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.88.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. ATI’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts predict that ATI Inc. will post 2.87 EPS for the current year.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the sale, the chairman now owns 436,443 shares of the company’s stock, valued at $25,745,772.57. This trade represents a 5.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares of the company’s stock, valued at $1,293,611.06. The trade was a 10.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,498 shares of company stock valued at $2,288,141. 0.71% of the stock is currently owned by corporate insiders.

About ATI

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.